BNP Paribas Financial Markets Boosts Stock Position in Wipro Limited (NYSE:WIT)

BNP Paribas Financial Markets raised its position in shares of Wipro Limited (NYSE:WIT - Free Report) by 36.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,798,020 shares of the information technology services provider's stock after purchasing an additional 4,215,981 shares during the quarter. BNP Paribas Financial Markets owned 0.15% of Wipro worth $55,925,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of WIT. GAMMA Investing LLC raised its position in Wipro by 161.3% during the 4th quarter. GAMMA Investing LLC now owns 23,099 shares of the information technology services provider's stock worth $82,000 after buying an additional 14,258 shares during the last quarter. Diversified Trust Co increased its stake in shares of Wipro by 361.4% in the fourth quarter. Diversified Trust Co now owns 89,056 shares of the information technology services provider's stock worth $315,000 after acquiring an additional 69,755 shares during the period. Fulton Bank N.A. purchased a new position in shares of Wipro during the fourth quarter worth $44,000. Ridgewood Investments LLC lifted its position in Wipro by 100.0% during the fourth quarter. Ridgewood Investments LLC now owns 7,114 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 3,557 shares during the period. Finally, Aprio Wealth Management LLC boosted its holdings in Wipro by 246.9% in the fourth quarter. Aprio Wealth Management LLC now owns 52,339 shares of the information technology services provider's stock valued at $185,000 after purchasing an additional 37,251 shares during the last quarter. 2.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WIT. StockNews.com raised Wipro from a "hold" rating to a "buy" rating in a report on Saturday, April 26th. Jefferies Financial Group lowered Wipro from a "hold" rating to an "underperform" rating in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold".

Wipro Price Performance

Shares of NYSE:WIT traded up $0.02 during trading on Friday, reaching $2.82. 3,426,760 shares of the company's stock traded hands, compared to its average volume of 5,056,816. The firm has a market cap of $29.49 billion, a PE ratio of 19.45, a P/E/G ratio of 3.08 and a beta of 1.03. Wipro Limited has a fifty-two week low of $2.55 and a fifty-two week high of $3.79. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.07. The company has a 50-day simple moving average of $2.95 and a 200-day simple moving average of $4.15.

Wipro (NYSE:WIT - Get Free Report) last announced its earnings results on Wednesday, April 16th. The information technology services provider reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Wipro had a return on equity of 15.46% and a net margin of 13.96%. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $225.66 billion. As a group, analysts predict that Wipro Limited will post 0.14 earnings per share for the current year.

About Wipro

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through IT Services and IT Products segments. The IT Services segment offers IT and IT-enabled services, including digital strategy advisory, customer-centric design, technology and IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, cloud and infrastructure, business process, cloud, mobility and analytics, research and development, and hardware and software design services to enterprises.